Cube Highways Trust Approves Preferential Unit Issuance for Acquisitions
Cube Highways Trust's Investment Manager, Cube Highways Fund Advisors Private Limited, has received in-principle approval from its Board of Directors for the issuance of units on a preferential basis. This issuance is intended to fund the acquisition of Devanahalli Tollway Private Limited and a majority stake in Western MP Infrastructure & Toll Roads Private Limited by Sponsor Cube Highways and Infrastructure V Pte. Ltd. Additionally, Cube Highways and Infrastructure II Pte. Ltd. will acquire Chenani Nashri Tunnelway Limited. The acquisition of Baharampore-Farakka Highways Limited (BFHL) from the Sponsor is deferred to a later stage. The preferential issue is subject to unitholder approval and other regulatory requirements.
Key Highlights
- Board approved preferential unit issuance for acquisitions.
- Acquisitions include Devanahalli Tollway and Western MP Infrastructure.
- Chenani Nashri Tunnelway acquisition also to be funded by units.
- BFHL acquisition postponed to a later date.
- Subject to unitholder and regulatory approvals.
Price Impact
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